Use the mortgage calculator to calculate the cost of buying a $71k home. Change the numbers to see different options.
This calc can be used for car loans, debt, real estate, home purchase, etc.
Can I afford a 71,000 dollar house? It depends.
In addition to the mortgage payment, a home also has insurance, maintenance, and taxes.
Taxes can vary drastically by area. A very rough estimate is to not spend more than 30% of your income
on housing.
How do I get a mortgage? A simple first step is to talk to a local banker and fill out a mortgage application. Then consider other offers, either local or online.
How much of a down payment should I make? Here's a little chart that shows monthly payments based on down payment for a $71,000 house.
$71,000 Home at 2%
| 0% down | $262.43/mo |
| 5% down | $249.31/mo |
| 10% down | $236.19/mo |
| 15% down | $223.07/mo |
| 20% down | $209.94/mo |
| 25% down | $196.82/mo |
| 30% down | $183.70/mo |
| 35% down | $170.58/mo |
| 40% down | $157.46/mo |
| 45% down | $144.34/mo |
| 50% down | $131.21/mo |
$71,000 Home at 4%
| 0% down | $338.96/mo |
| 5% down | $322.02/mo |
| 10% down | $305.07/mo |
| 15% down | $288.12/mo |
| 20% down | $271.17/mo |
| 25% down | $254.22/mo |
| 30% down | $237.28/mo |
| 35% down | $220.33/mo |
| 40% down | $203.38/mo |
| 45% down | $186.43/mo |
| 50% down | $169.48/mo |
$71,000 Home at 6%
| 0% down | $425.68/mo |
| 5% down | $404.40/mo |
| 10% down | $383.11/mo |
| 15% down | $361.83/mo |
| 20% down | $340.54/mo |
| 25% down | $319.26/mo |
| 30% down | $297.98/mo |
| 35% down | $276.69/mo |
| 40% down | $255.41/mo |
| 45% down | $234.12/mo |
| 50% down | $212.84/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.